Phishing For Phools: Crowdfunding Or Crowdphishing?
If one were seeking a perfect example of why it’s so hard to make financial markets work well, one would not have to look further
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Deepening EU Economic Governance: The Next Steps
Earlier this year, the so called ‘Five Presidents’ report’, authored by Jean-Claude Juncker, Donald Tusk, Jeroen Dijsselbloem, Mario Draghi, and Martin Schulz, was published, outlining
The Eurozone: Deflationary Boom Or Deflationary Bust?
Several years ago the idea that fiscal austerity could induce growth, “expansionary austerity”, had a brief flowering before withering under the heat of ridicule. Recently
New Countdown For Greece: A Bank Bail-in Is Looming
The debt crisis may no longer be in the spotlight but the financial situation in Greece remains complex. Greek banks continue to survive at the
The End Of German Hegemony – Really?
I was puzzled by Daniel Gros’ recent column in which he claims that Germany’s dominance of the EMU may be coming to an end. Gros’
How Technology Can Eradicate Unemployment And Jobs At The Same Time
Several days ago Steven Hill presented at the Graduate Center CUNY in New York his new book “Raw Deal: How the ‘Uber Economy’ and Runaway
The Global Slowdown And the Narrowing Of The Fed’s Freedom Of Action
On September 17, the Federal Reserve postponed again the decision – ‘announced’ many times in advance – to raise interest rates toward “normal” levels after
Industry 4.0: We Don’t Need A New Industrial Policy But A Better Regulatory Framework
Good economic policy rests on a clear idea of what the state and business should do or leave to others. This clear division is missing
Weak States, Poor Countries
In Scotland, I was brought up to think of policemen as allies and to ask one for help when I needed it. Imagine my surprise
Euro Deflation And How To Interpret It
If you read Larry Summers in the Financial Times, you know that recent data confirm falling prices in the euro zone. Summers argues that the
The Mirage Of Structural Reform
Every economic program imposed on Greece by its creditors since the financial crisis struck in 2009 has been held together by a central conceit: that
Making Progress In Economic And Monetary Union
The State Of The Economy In Europe The recovery that has been developing over the past several quarters in Europe is encouraging but modest. To
Jeremy Corbyn’s Necessary Agenda
Seven economists (including Joseph Stiglitz, Thomas Piketty, and me) have agreed to become economic advisers to Jeremy Corbyn, the new leader of the British Labour
Why The Move Towards A Cashless Society Is Bad News For Criminals
Last week I left home without my wallet. I soon realised it did not really matter. I could even manage without a plastic card. My
How Edmund Phelps Got It Wrong On Greek Austerity
In the debate on the Greek crisis, no cliché was too tawdry to be used and no claim too stupid or false to be made
Fraud, Fools, And Financial Markets
Adam Smith famously wrote of the “invisible hand,” by which individuals’ pursuit of self-interest in free, competitive markets advances the interest of society as a